A former senior counsel to the House of Representatives Financial Services Committee has been named Director of Government Relations at the CFP Board of Standards. CFP Board hired Washington, D.C. attorney Todd L. Cranford for the newly created position, representing a clear effort by CFP Board to influence the political process surrounding regulation of investment advisors.
With Congress and the Securities and Exchange Commission expected to make decisions over the next year about how to implement the 2010 Dodd-Frank Act overhauling the nation's financial services industry, CFP Board has tapped a veteran Washington insider to lead its lobbying effort.
Before joining Patton Boggs, a Washington, D.C., law firm active in lobbying Congress on regulatory matters, Cranford served as Senior Counsel of the Committee on Financial Services of the U.S. House of Representatives, according to a CFP Board press release, and Cranford advised former Chairman Barney Frank (D-Mass.) and members of the Committee on policy and legal issues related to capital markets and securities. Before that, he was Senior Counsel in the SEC's Division of Enforcement, where he investigated, developed and instituted civil and administrative actions involving violations of federal securities laws.